Economics
Powell Says Solid Economy Faces Headwinds as Fed Mulls Rates
- Fed chief stresses economy is in good place, can grow faster
- Powell says goal is to extend expansion and keep inflation low
This article is for subscribers only.
Federal Reserve Chairman Jerome Powell said the U.S. economy is strong but could face headwinds next year as policy makers weigh how far and fast to raise interest rates.
“We have to be thinking about how much further to raise rates, and the pace at which we will raise rates,” Powell said during a question and answers session Wednesday in Dallas moderated by Dallas Fed chief Robert Kaplan. The goal is to “extend the recovery, expansion, and to keep unemployment low, to keep inflation low.”